Fancy a humbug? Credit Crunch Christmas is here

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Brits wanting to keep hold of their savings are welcoming a more frugal festive season, claiming this will help us rediscover the true spirit of Christmas.

Four in five people see this years festivities as more about spending time with their family rather than being out and about and spending money, no wonder that six in ten people feel this Christmas will be more meaningful.

A 'Frugal Festivities' study by Norwich Union (part of Aviva) confirmed that this years fashion will be socialising at home or at friends instead of bars and restaurants. We'll be making our own mince pies for Santa and sending email greetings to friends, as well as swapping the Christmas Eve trolley dash for carol services.

10% of people will make rather than buy presents this year.

33% of families will introduce a 'kids only' Santa rule.

43% are slashing the excess spending to go back to basics, trimming down on crackers, Secret Santa's, decorations and stocking fillers.

An increase of 9% of those who won't be buying their partner a gift this year.

Louise Colley, Norwich Union says: "It's good to see that we're refusing to let the credit crunch entirely steal our Christmases and planning more traditional, less expensive celebrations this year. As a mother of young twins I'm very aware of how costly festivities can be, but I'll be making sure I celebrate by spending time with my family - after all that's what Christmas should be about.

"The Christmas and New Year period is a great time to take stock and get your finances in order. Anyone enjoying a frugal Christmas will have a head-start on those who are using credit to pay for their festivities. Without a plan to pay off festive debt as quickly as possible, many may find themselves still paying the price by the time Christmas comes again."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.